Generating DI Prospects

[Ruck4Life]

Hey everyone

Just wanted some advice and suggestions on generating new prospects for disability insurance. I feel it is a great market to be in and not too many agents are. Currently I am getting most of my DI sales from existing life ins. clients but I was curious to see what other people are doing to generate leads and prospects for disability. I do some work with direct mail and have seen some results but not exactly what I was looking or hoping for.

Any Takers?

Thanks

 

[arnguy]

Go to www.disabilityinsuranceforum.com for some really good advice. That is where a lot of DI specialists hang their hat.

 

[Death Cab For Tootie]

"Mr. Prospect, are you in a position financially to retire today?"

"No."

"So, you need your income to acheive your goals. Can I review your current disability coverage?"

"I have it at work."

"Great! What I find, however, is that it won't fully replace your income. If you walked into work and you were told your pay was going to get cut by 60%, could you afford to stay?"

"Well, of course not!"

"That's how group DI works in a lot of cases. It may not cover all your income. Would you like to learn how your group disability really works?"
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Business owners dont' have it in many cases, so you don't have to worry about them having it at work. But they still need their income!

I hope this helps.

 

[annuityseller]

ON THIS FORUM SOME WHERE IS THE BEST QUOTE i'VE SEEN.
" WOULD YOU LIKE A GET WELL CARD OR A CHECK" I THINK ASSURITY LIFE HAS THE APPROVED MARKETING MATERIAL

 

[Ruck4Life]

Death Cab.... with self employed a problem I run into is limits to benefit qualifications from income write down from their schedule C. I usually package with some CI in most cases. What do you do in this scenario?

Also annuityseller, that is a great line.... maybe a good route for some DM. Do you have any personal experience with this?

Thanks

 

[Death Cab For Tootie]

It really depends on their occupation. For white collar, carriers like Guardian and Mass Mutual offer professionals the ability to buy up to a set amount of coverage without financials. Usually, this is appropriate for those starting out in their own practice.

For blue and grey collar, I'll admit, it can be a challenge. I don't use CI but I wouldn't be opposed to it either. However, I was under the impression CI benefits will coordinate with DI benefits. I could be wrong on that, however.

Ultimately, if they feel income replacement is needed, better to get them the net from their Schedule C than no coverage at all!

 

[Ruck4Life]

It really depends on their occupation. For white collar, carriers like Guardian and Mass Mutual offer professionals the ability to buy up to a set amount of coverage without financials. Usually, this is appropriate for those starting out in their own practice.

For blue and grey collar, I'll admit, it can be a challenge. I don't use CI but I wouldn't be opposed to it either. However, I was under the impression CI benefits will coordinate with DI benefits. I could be wrong on that, however.

Ultimately, if they feel income replacement is needed, better to get them the net from their Schedule C than no coverage at all!

I don't think CI benefits are coordinated with DI at all; there is no income proof required with CI. With guardian and MassMutual, they do not require proof of income on their policies?

 

[Death Cab For Tootie]

I don't think CI benefits are coordinated with DI at all; there is no income proof required with CI. With guardian and MassMutual, they do not require proof of income on their policies?

For new professionals starting out, they offer some amount of coverage without financials. They still have to go through medical underwriting. However, this amount of coverage they can get is limited. I have a family law attorney client who makes well over $200k/year. However, she just started her practice about a year ago. She did not have financials that reflect the health of her practice. She did, however, qualify for a nominal amount of benefit, future income increases, a catastrophic rider, and own-occupation to 65 status without financials. Once she has new P&L's/K-1's/etc., she can re-apply for a larger benefit.

 

[The Hunter]

Go to www.disabilityinsuranceforum.com for some really good advice. That is where a lot of DI specialists hang their hat.

Arnguy,

I don't think this is the web site you are talking about. Look for yourself ,it is strictly advertising.

 

[arnguy]

Arnguy,

I don't think this is the web site you are talking about. Look for yourself ,it is strictly advertising.

Oops, my bad, Hunter. I forgot the #@*! "s" at the end of the word forum. It should read: www.disabilityinsuranceforums.com